Production Updates on Wilson and Dunn Deep
The Wilson well came on-stream on September 10, 2007, at an initial rate of 2.5 MMcf/d. By end September, average output had risen to 3.1 MMcf/d. This was slightly above the 3 MMcf/d target announced at the time of commissioning. Pantheon has a 31.77% working interest in Wilson.
Dunn Deep #2 commenced production on September 17, 2007 at an initial gross rate of 3 MMcf/d and 60 b/d of condensate. By the end of September, this had risen to an average stabilized rate of 4.8 MMcf/d and 70 b/d of condensate. This is toward the top end of the operator’s projected 4 to 5 MMcf/d range. Pantheon holds 7.5% interest in Dunn Deep #2.
Although Pantheon is encouraged by the early production performance of both wells, it is important to caution that they remain in the preliminary stages of development. The Wilson well, in particular, requires an extended period of production testing to ascertain its ultimate long-term performance profile. In addition, this prolonged testing period will also assist in narrowing the reserve estimate for the Wilson discovery.